Europe
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HSBC and BMO Financial Group have invested about $150 million in Breakthrough Energy Catalyst, a private-public fund backed by Microsoft co-founder Bill Gates.
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Canadian real estate company Colliers has acquired a 75% stake in infrastructure investment manager Basalt Infrastructure Partners.
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Spanish solar developer X-Elio has hired an executive from Brookfield Renewable Europe to work as its chief business development officer.
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Ørsted’s head of mergers and acquisitions in the US has left for a new role at Copenhagen Infrastructure Partners.
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Trafigura Group announced on April 9 that it will launch its first carbon trading desk, led by Hannah Hauman, further expanding the scope of its trading activities.
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A bladeless wind generator designed by a Madrid-based start-up has been dubbed the "Skybrator" due to its suggestive shape and the way it oscillates back-and-forth in a stiff breeze.
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Several renowned Scotch whisky makers, including Glenmorangie, are working out a spirited plan to power their Highland distilleries with green hydrogen produced using generation from nearby offshore and onshore wind farms.
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Nordex has selected a new CFO to replace the incumbent Christoph Burkhard, who had held the position since October of 2016.
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Chicago-based investment bank Marathon Capital has established an outpost in Europe for the first time with a senior hire from Moelis & Co in London.
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Thomas Brostrøm, the former chief executive of Ørsted’s North American offshore wind division, is preparing to take the helm of Shell’s global renewable generation team next year.
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Australian asset manager AMP Capital has confirmed that it has received a non-binding public takeover offer from Ares Management Corp.
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DIF Infrastructure VI has reached a €3.03 billion ($3.5bn) final close after increasing its hard cap.
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When Engie and EDP Renováveis christened their offshore wind joint venture Ocean Winds, you could be forgiven for assuming that it had taken about 10 seconds to come up with the name. But in the branding world, nothing is that simple.
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BP has entered into an agreement to supply Microsoft Corp with renewable power around the world.
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Australian fund manager AMP Capital has promoted its global head of infrastructure equity – Boe Pahari – to the position of CEO.
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Copenhagen Infrastructure Partners has reached first close on its fourth vintage fund with commitments totaling €1.5 billion ($1.69 billion).
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Henrik Poulsen is set to step down as CEO of Ørsted after eight transformative years with the company.
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LNG infrastructure developer Golar LNG has appointed an interim CEO as it launches a strategic review.
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A financial adviser has been mandated for the potential sale of gas turbine servicing businesses in North America and Europe.
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Jack Paris and Philip ten Bosch have been promoted to co-heads of global power investment banking at Citi.
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Infrastructure private equity firm I Squared Capital has named three new partners, in addition to three existing managing partners.
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Engie and EDP have signed a memorandum of understanding to create a co-controlled 50:50 offshore wind joint venture.
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Amazon Web Services has inked power purchase agreements for projects in the U.S, Ireland and Sweden totaling more than 229 MW.
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Two bankers have left ABN Amro’s New York power and renewables project finance team to take up jobs elsewhere.
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Atlantica Yield today withdrew a $300 million high yield bond offering it had been marketing for the past week in a sign that stock market volatility has infected the debt capital markets.
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German developer BayWa r.e. has revealed it expects to sell 450 MW of renewable generation assets in the U.S. and Europe by the end of 2018.
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The #PowerTweets feature tracks trends and news in power and energy on Twitter.
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British bureaucrats have drawn up radical contingency plans to keep the lights on in Northern Ireland—which relies on a shared energy market with the Irish republic—in the case of a “no-deal Brexit”, the Financial Times reported last week.
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A 2.6 GW hydro project built in the Soviet Union in the 1950s is partly to blame for the decline of sturgeon that has devastated the Russian caviar industry, according to a British wildlife conservation researcher.
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Independent power producer InterGen is shifting its commercial and trading operations out of the U.S. after selling its Mexican generation assets.
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A banker who joined ING’s utilities, power and renewables team in New York as a director last summer has already left for a different role at an advisory firm in Spain.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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Whether or not one believes bitcoin is the decentralized future of money or a pyramid scheme masquerading as currency, the reality is that mining bitcoins consumes enormous amounts of energy.
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Marc Groves-Raines is taking over as head of Allianz Capital Partners’ London-based renewables group, which inked a string of U.S. tax equity deals in 2016.
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The first person to walk to both the North and South poles is returning to the Antarctic, this time with his progeny—and some solar panels—in tow.
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Policymakers in Europe are considering tinkering with regulatory capital rules to allow banks to hold less capital against “green” assets, such as renewable project finance loans.
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Three former executives at Venture Global LNG have founded a U.S.-based international investment firm with a focus on infrastructure.
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A private equity firm is selling a waste-to-energy business, PFR has learned.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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France’s Akuo Energy has tapped a trendy source of capital, raising €200,000 for an operational 28 MW wind project through its own crowdfunding platform.
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A Dutch pension fund manager has agreed to acquire a portfolio of distributed solar assets from SolarCity.
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A former head of energy at BNP Paribas in New York has landed at BMO.
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Sungevity filed for Chapter 11 bankruptcy protection in Delaware on Monday. The Oakland, Calif.,-based distributed solar sponsor has agreed to sell its assets to a group of investors.
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BlackRock has agreed to acquire First Reserve Energy Infrastructure Funds, the infrastructure equity arm of the firm.
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SunEdison has found a buyer for its stake in a portfolio of U.S. wind assets. The sponsor has held the assets through a warehouse financing vehicle since acquiring them from Atlantic Power in 2015.
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French sponsor Akuo Energy has sealed financing for its 150 MW Rocksprings wind project in Texas, including bridge loans, third-party equity and tax equity.
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Just over a year after the company was unveiled, General Electric-owned Current is undergoing a restructuring, PFR has learned.
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TerraForm Power has secured $90 million (C$120 million) in project financing for its utility-scale solar facilities in Canada in part to help to pay down holding company debt.
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Enel plans to offload generation assets over the next two years, according to a strategic plan for the years 2017 to 2019 laid out by the Italian utility company on Nov. 22.
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A biomass project in Copenhagen that aims to entice tourists to stroll amid a forest of hanging tree trunks won an international architecture award this month.
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A hedge fund-backed solar-focused independent power producer has hired four financial advisers to sell its 1.3 GW portfolio of operating, under-construction and shovel-ready projects, development and asset management platform and accompanying 5.4 GW pipeline.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter. For more news and coverage, follow @PowerFinRisk on Twitter, as well as editor @MetcalfReports, managing editor @OliviaFeld and reporter @FotiosEuromoney.
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Institutional investors advised by JP Morgan Asset Management have acquired "substantially all" of the solar independent power producer Sonnedix.
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TerraForm Power and TerraForm Global are working with managing shareholder SunEdison on its potential exit from the yield companies.
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Improvements in wind turbine technology in recent years have made it possible to construct ever taller towers and wider blade diameters, but the future of power may be smaller—much smaller—according to recent research.
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Northland Power has launched a strategic review which could lead to the sale of the company. The Toronto-based independent power producer has hired CIBC and JP Morgan as financial advisers.
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As global financial markets reeled in the wake of the U.K.’s historic vote to leave the European Union, it was business as usual for much of the American project finance community.
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Rothschild has sent out teasers and set a deadline for bids for SunEdison’s global project portfolio.
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SunEdison has launched an audit based on allegations made by former executives of the company, according to the filing with the U.S. Securities and Exchange Commission.
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Abengoa Yield has revealed its new name, Atlantica Yield, and hired a new cfo as it distances itself from its sponsor and part owner, Abengoa.
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What once could be thought of as mythological parable, a mighty sun god harnessing the energy of the sky and distributing it to humanity, could become a technological reality.
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Spanish company Abengoa has sought bankruptcy protection and is in talks with its creditors about restructuring its debts. Abengoa Yield, the sponsor’s yield company, which has assets in North and South America, is not immune to the problems faced by its parent company.
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Carlos Domenech has left his position as ceo of TerraForm Power and TerraForm Global at the request of the yield companies' boards. His last day was Nov. 20, a company spokesperson tells PFR.
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SunEdision may rewrite or scrap a number of announced acquisitions, as the company continues to grapple with its hammering in the stock market.
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Until now, Sweden’s ICEHOTEL has remained closed in the summer months. That was understandable, because it melts every spring. But the team behind the project now has plans for a solar powered wing to be open all year round.
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New York-based private equity firm Cerberus Capital Management has acquired Renovalia, a Spanish renewables shop with projects in the U.S., Canada, Mexico and Chile, for €1 billion.
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TerraForm Global has appointed a new executive v.p. and cfo. Alejandro Hernandez, who is executive v.p. and cfo of TerraForm Power, takes on the task of heading both of SunEdison’s yield companies.
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Conergy’s regional head of the Americas, Yann Brandt, speaks to PFR editor Richard Metcalf about the aspirant solar independent power producer's plans to grow its portfolio in the U.S., Brazil and Mexico, how it will finance that growth, and long term financing options such as securitization and yield companies.
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After months of stock volatility, SunEdison has announced that it is putting asset drop-downs to TerraForm Power and TerraForm Global on hold, just as shares in the yield companies begin to recover some of the ground lost.
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SunEdison has unveiled a new strategy in an attempt to halt and reverse its share price decline. The major renewables sponsor plans to sell its assets to its warehouses and third parties instead of continuing its strategy of dropping them into its yield companies.
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As technology allows engineers to build wind turbines ever taller and with ever wider diameters, a team of inventors in Iceland is heading in the opposite direction.
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Solar developer Conergy has increased the size of its bank guarantee facility to $75 million with a $15 million commitment from Goldman Sachs BDC.
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The cfo of Abengoa Yield resigned on Monday, four months after the yield company’s ceo departed to run its parent company, Abengoa S.A.
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In this exclusive, Navindu Katugampola, head of green and sustainability bond origination at Morgan Stanley, based in London discusses the rationale behind the bank's recent $500 million green bond sale and the flow of private capital towards green bond issuers in the U.S.
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KKR has taken an 80% stake in the solar development subsidiary of Spain's Gestamp, as private equity firms increasingly look to emerging markets for returns.
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The LEGO Group has entered the renewables market by building a 310 MW wind farm off the northwest coast of Germany. Unfortunately, it is not made of the colorful plastic bricks.
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Northland Power has hired a new business development director, as its former director of communications and business development moves to London and its president and chief development officer, Sean Durfy, prepares to step down at the end of August.
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Yield companies are set to circumvent the challenge of new competition if the Master Limited Partnerships Parity Act, recently reintroduced by Delaware and Kansas senators Chris Coons and Jerry Moran, passes muster.
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A snapshot of lighter moments at the 2015 REFF Wall Street conference in New York replete with snippets of conversation and banter across panels, luncheons and cocktails.
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Even as strategic investors are increasingly becoming involved in financing renewables projects, developers are tackling a fresh set of risks and challenges in developing their generation portfolios.
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The U.S. offshoot of Spain's Iberdrola is planning to launch a partial IPO once it completes its merger with Orange, Conn.-based United Illuminating Holding Co.
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While the renewabels market is seeing high levels of liquidity, yieldcos are capitalizing on declining costs of capital for shovel-ready and operating projects, according to panelists at the 12th Renewable Energy Finance Forum Wall Street conference in New York today.
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Allianz is planning to make its maiden tax equity investment in the U.S. wind market, and is talking to sponsors about prospective deals.
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SunEdison is acquiring Globeleq Mesoamerica Energy from Mesoamerica Power and Actis Capital in a deal that marks the prelude to its expansion into Central America.
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Québec's Boralex has bought a C$5 million option to acquire a 25% stake in the 230 MW Niagara Region wind farm in Ontario from German turbine manufacturer Enercon.
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Bank of America Merrill Lynch has appointed Brad Hutchinson from Barclays as co-head of the Americas energy investment banking group in Houston.
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Stockholm-based Skanska's U.S. affiliate has started operations in Pittsburgh with local maven Geoffrey Murken leading its energy and infra operations, as the company ponders over a bid for NTE Energy's 525 MW Middletown facility in Ohio.
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In the second installment of this PFR exclusive, Michael Allison, senior managing director at Macquarie's renewables group discusses his views on the potential for yieldcos coming to market, challenges involved in securing tax equity investments and more.
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Two on-site wind turbines have been installed at the Eiffel Tower, as part of the first major renovations at the Parisian landmark in 30 years.
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London-based private equity shop Terra Firma Capital Partners is placing its U.S. affiliate EverPower Wind for sale, and has hired Bank of America Merrill Lynch as an advisor.
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With about 800 MW of wind trades grabbing the spotlight this week, this week has seen a spate of M&A activities in the wind space.
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More shops are circling yieldco IPOs even as investor appetite for yieldco paper grows against the backdrop of an industry that is moving toward consolidation.
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EDP Renewables has sold a 35.9% stake in a portfolio of wind assets totaling 1,100 MW in the U.S. to a consortium led by Fiera Axium Infrastructure.
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California-based Lightbeam Electric has floated an S-1 with the SEC, aiming to raise $100 million in its initial public offering as a yield company.
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Pattern Energy Group is acquiring a trio of wind projects from Wind Capital Group and Pattern Development for a combined purchase price of $372 million.
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This week’s Industry Current is written by Randy Male, managing director at boutique investment banking firm Bostonia Partners in Boston. Male discusses the growing appetite for yield companies and evolving trends in renewables financing.
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Abengoa and EIG Global Energy Partners are looking to finance their 924 MW Norte III combined cycle project in northern Mexico.
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An affiliate of Royal Dutch Shell is in advanced discussions with Gestamp Solar to acquire 280 MW of utility-scale solar assets in California.
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Northland Power is in talks with lenders to arrange more than $1 billion in senior secured loans for two wind farms on either side of the Atlantic.
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The Yieldco Sweep is an exclusive monthly feature that tracks the performance and activity of key yield companies in the power sector with illustrative graphics and market insight.
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Madrid-based Abengoa and Washington D.C.-based EIG are finalizing a deal to jointly invest $2.5 billion in a vehicle that will fund Abengoa’s contracted projects as they go into construction.
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A new coffee pot designed by Lancaster University in the U.K. could condition some folks to crave a caffeine fix when the wind is blowing.
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Silicon Ranch Corp., a Nashville, Tenn.-based solar shop, has raised $140 million in equity from Greystone Infrastructure Fund.
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In the end, the beauty of renewables won out over novelty.
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Carlos Domenech, ceo and president of TerraForm Power, sat down with Managing Editor Holly Fletcher on his trip to New York to ring the bell at NASDAQ, anointing the public arrival of SunEdison’s maiden yield company.
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Abengoa Yield is acquiring 181 MW of renewables projects in Uruguay and Spain from Spanish parent Abengoa.
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Tom Murray, formerly the global head of energy of WestLB, is set to join Apollo Global Management next week as the firm looks to ramp up its power and infrastructure credit investing.
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Enel Green Power North America is one of several renewable shops with European parents that are looking to bring co-investors into existing wind portfolios as a way to raise capital to fund further developments.
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DIF Infrastructure has bought a solar farm in Napanee, Ontario, from Stonepeak Infrastructure, a deal that doubles its portfolio in the province.
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Northland Power is hunting for early stage development projects in Chile, Mexico and Europe.
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Clean Fund LLC, a specialty finance shop out of Sausalito, Calif., is aggregating a portfolio of commercial energy efficiency and solar assets that it plans to securitize in a rated transaction in the fourth quarter.
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BayWa r.e. Wind, a subsidiary of German turn-key developer BayWa, has lined up a tax equity investment in a wind project in New Mexico from a subsidiary of Union Bank.
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SunEdison has agreed to buy AES Corp. out of Silver Ridge Power, AES solar joint venture with Riverstone Holdings.
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ContourGlobal Power Holdings has issued a $400 million in privately placed high-yield notes.
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Abengoa has filed to take a portfolio of global power and transmission assets public in a NASDAQ-listed yield company.
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Harbinger Group has invested in Energy & Infrastructure Capital, a new platform that is looking to lend a range of debt to sectors, including power and midstream gas.
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AMP Capital has raised another $450 million to take the overall amount in its AMP Capital Infrastructure Debt Fund II to more than $750 million.
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Acciona has taken initial bids from investors looking to buy into its 2.5 GW global wind and solar portfolio.
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A burgeoning lender base and slower deal flow are helping sponsors drive down pricing and secure attractive terms.
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K Road Power is selling a solar facility in California to a shop backed by hedge fund BlueMountain Capital Management and Global Cleantech Capital.
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Acciona, the construction and engineering firm out of Madrid, has launched a process to bring investors into its 2.5 GW global wind and solar portfolio.
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Cape Wind is poised to land a $600 million loan from the Danish export credit agency EKF backing the 468 MW project off the coast of Cape Cod.
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Biomass pellet company Enviva has brought on Martin Livingston, formerly a managing director at WestLB, as v.p. of infrastructure, finance and development.
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Pieridae Energy, developer of the up to $10 billion Goldboro liquefied natural gas export project in Nova Scotia, is looking for a majority equity investor.
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Etrion Corp., a solar developer with assets in Europe and South America, is looking at ways to fuel growth.
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Private equity firm Power Capital Holdings has partnered with Hunt Consolidated subsidiary Hunt Power Capital Partners to launch its maiden power and energy play, Power Capital Partners.
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Enel Wind Brazil is slated to secure up to $420 million from the International Finance Corporation backing 342 MW of wind farms in Brazil.
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Captain Sandstone. While the name may conjure a leathery windswept figure before the helm, it’s a deep saline formation that lies about 1.25 miles below the North Sea, a piece of real estate that is becoming popular with the power and energy set.
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I Squared Capital, a company established by ex-Morgan Stanley executives, is aiming to raise $2 billion for its maiden infrastructure fund.
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In this week's roundup: Mezzanine debt shows up around the renewables space while sponsors wait in the wings for stability in the B loan market.
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Natixis is looking to become more active in project finance lending in the Americas and has added two senior bankers in the drive.
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AES and Riverstone Holdings pulled the C$150 million ($148 million) initial public offering of Silver Ridge Power, née AES Solar, on the Toronto Stock Exchange over investor disquiet about the geographic makeup of the portfolio.
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Jon Schintler, director of finance at Chicago-based Invenergy, has joined Alterra Power Corp. as director of project finance and mergers & acquisitions.
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In this week's round-up: Renewables are set for a growth spurt in Latin America and East Coast generation auctions lure investors.
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Jamie Welch, co-head of the global energy group and head of the investment banking department in Europe, the Middle East and Africa at Credit Suisse, is leaving to become cfo and head of corporate development at energy master limited partnership player Energy Transfer.
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George Veit, ceo of Berlin-based distributed generation sponsor Geenex, has been in the U.S. meeting potential investors and development partners on both coasts as it looks to invest $500 million in utility-scale photovoltaic projects in the country over the next five years.
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Latin America is bustling with opportunities for project development and M&A, according to Pedro Barriuso, ceo of Blackstone’s new power and energy development company Fisterra Energy.
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The North American Development Bank has provided $51 million alongside Mexican commercial bank Grupo Financiero Banorte to a $51 million, 54 MW wind project in Reynosa, Tamaulipas, Mexico, that is being developed by GEMEX, Grupo ECOS, a Swiss investor, and Organizacion Soriana.
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Private equity and venture capital shops such as Draper Fisher Jurveston and Braemar Energy Ventures invested $5.8 billion in renewables companies in 2012, down 34% from 2011.
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European lenders will likely increase participation in project finance deals due to the Basel Committee on Banking Supervision’s decision to delay and water down Basel III requirements, according to bankers and executives.
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Athens, Greece-based renewables developer Terna Energy is looking to refinance a 138 MW portfolio of wind farms in Elmore County, Idaho via institutional investors.
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Clarity on government incentives and international cooperation on financings would help alleviate some of the issues faced by financiers of renewable energy projects, according to the International Energy Agency.
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Centrica is considering expanding Direct Energy, its retail company in the U.S., instead of further investments in nuclear generation in the U.K.
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European banks are taking steps again in North American project financing, attendees heard at the Platts Financing U.S. Power conference in New York on Oct. 18 and 19.
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Pay close attention to the ground around the track the next time you watch The Stig test out the latest exotic sports car on the Top Gear campus in Surrey, England.
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There are two holidays this week, but only one—Father’s Day—is spurred by Hallmark.
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Goldman Sachs Group will invest $40 billion in renewable energy projects globally over the next decade.
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A subsidiary of Elecnor, a Spanish renewables, transmission and gas pipeline player, has landed a C$250 million ($243.1 million) unrated private placement backing its 100 MW wind project in L’Erable. Québec.
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Angela Merkel, the German chancellor, is looking to ink a solar aid plan before lawmakers depart for summer recess.
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Officials at WestLB remain open to selling its structured finance practice before the bank is broken up June 30, but observers doubt enough time remains to ink a sale of the entire unit.
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Conergy, the Hamburg, Germany-based solar system supplier, has reported financial improvements in the first quarter, attributing that success to a restructuring program and improvements in EBIT and net cash flow.
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GE Technology will supply 38, 2.5 MW turbines for a wind project being developed in Poland by Invenergy.
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German wind turbine manufacturer Fuhrlander AG has canceled plans to build a turbine factory in Butte, Mont.
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Siemens CEO Felix Ferleman says the wind industry must quickly cut costs if it is going to be able to compete with other forms of generation.
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California-based SunEdison has closed on financing for a Bulgarian solar project.
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Ciaran O’Brien, cfo at Wind Capital Group, has left the company.
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Alstom, the French engineering group, is eyeing Gamesa and Vestas as potential acquisitions.
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California-based Premier Power is planning a large scale solar project in a joint venture with European company Plaan Czech.
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Wind turbine manufacturer Vestas has signed supply contracts for two proposed projects in the U.S. and Italy for 206 MW of equipment.
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Total global wind generating capacity increased 6%, or 41 GW, in 2011.
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Swiss electrical equipment developer, ABB, will pay $3.9 billion to acquire U.S. transmission equipment supplier Thomas & Betts Corp.
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Duke Energy and other big corporate borrowers are looking beyond their relationship European lenders to fortify credit lines in light of the European debt crisis.
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UniCredit has decided to wind down its project finance origination operations in New York.
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Chinese company China Three Gorges aims to make Portuguese utility EDP into a leading global energy outfit after it purchased a 21% stake in the utility.
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Biomass developers Green Energy Team and Standardkessel Baumgarte Contracting have tapped WestLB to lead a financing backing their roughly $70 million, 6.7 MW biomass project near Koloa, Hawaii.
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GE has announced that it will debut a 4.1 MW offshore turbine.
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First Reserve has announced that it will be investing $150 million in wind projects via a joint venture with Spanish company Renovalia Energy.
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Stuart Wimbury, UniCredit HVB director of loan syndication, is leaving New York Wednesday to return to the London office.
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French nuclear company Areva is working to build 120 wind turbines at two projects off the coast of Germany.
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Banco Santander is taking an equity stake in Abengoa Solar’s $1.9 billion Solana concentrating solar project in Gila Bend, Ariz.
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Azerbaijan and Turkey have initiated construction on a $5-6 billion trans-Anatolian gas pipeline.
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Global investment in renewables generation may double to $395 billion, according to Bloomberg New Energy Finance.
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EON is planning to seek damages in court for losses incurred by the German government’s decision to shutter nuclear power in the country.
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The U.K. government has decided to cut a feed-in tariff supporting solar photovoltaic installations by more than half.
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Energias de Portugal’s nine-month profit was boosted 6% on increased output from its wind generation in Brazil.
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SSE has requested that the Scottish government withdraw its application to build a 72.5 MW wind farm in North Ayrshire, Scotland.
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PGE, Poland’s largest utility, is expected to issue a request for proposals next month to provide nuclear reactor technology for its first nuclear plant.
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PGE, Poland’s largest utility, is expected to issue a request for proposals next month to provide nuclear reactor technology for its first nuclear plant.
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Whisky is fueling more than just the weekly office happy hour.
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Wind and solar financing globally reached a record $41.8 billion in the last quarter, fueled by the $6.3 billion financing of 1 GW of offshore wind projects in the North Sea, according to a report by Bloomberg New Energy Finance.
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Alvaro Martinez Palacio, Iberdrola’s offshore wind chief, anticipates that offshore wind projects will be a playground for large utilities rather than small and midsize players.
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China Guangdong Nuclear Power Holding Co. has reinitiated talks with U.K.-based Kalahari Minerals about acquiring a stake in a uranium deposit in Namibia.
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Solar panel manufacturers have seen their stocks plunge to multiyear lows as margins are squeezed as demand for panels—especially in Europe—falls, creating a global overstock.
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EDF Group, the second largest shareholder in Constellation Energy Group and its nuclear partner, is threatening to vote against Constellation’s merger with Exelon after talks about maintaining autonomy in the nuclear joint venture stalled.
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Natixis is moving Pascal Soldaini, head of project finance in Spain and Portugal, to head of project finance for Latin America.
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La Caixa expects to relocate four existing project financiers from Spain to staff an office in New York that it aims to open within three months, said an industry observer.
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Gamesa Energy will look to grow in Asian wind markets as the company tries to compensate for falling installation rates in the U.S. China and India are expected to offset the donwturn, said Stephen Brownell, acting general counsel at Gamesa at Stroock & Stroock & Lavans 2011 Evolving Energy Industry Directions in New York.
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Natixis has promoted Richard Garcia, head of project finance in the Americas, to lead the bank’s global power team in Paris. Olivier Delay, Natixis managing director and head of specialized finance, will replace Garcia as regional head of project finance and remain in New York.
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General Electric, one of the largest manufacturers of wind turbines, is reducing its presence in the slow offshore wind market.
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Germany is considering importing solar generation from Greece.
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General Electric may pull out of a plan to establish an offshore wind presence in Norway since the market has not grown as anticipated.
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AES Solar Energy, the joint venture between AES and Riverstone Holdings, is looking for an investor to take a stake in its solar photovoltaic projects in Europe.
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German automaker Volkswagen is considering buying stakes in two offshore wind projects as part of a scheme to invest about EUR1 billion ($1.44 billion) in renewable energy over the next two years.
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While Americans continue arguing about the worthiness of high-speed rail and New Yorkers revamp Penn Station at a glacial pace, Europe is surging light years ahead.
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Stovetop meltdowns can be messy, but for Richard Handl of Sweden, it could have been a bit more catastrophic.
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The European Union is planning to refer Ontario’s feed-in tariff program to the World Trade Organization on the grounds that the portions of the local content rule is inconsistent with international trade rules.
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Financiers are grappling with the potential impact Standard & Poor’s downgrade of U.S. sovereign debt may have on deal pricing and merchant asset sales.
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The British government has approved two biomass projects being developed by U.K.-based Drax Power, including the 299 MW Ouse Renewable Energy Plant in Selby.
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Allianz is planning to buy more wind and solar projects in an effort to boost investment returns.
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Blackstone Group has wrapped a $1.16 billion financing backing its $1.7 billion, 288 MW Meerwind project in the German North Sea.
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Ikea has bought a 12.3 MW wind farm in Huntly, Scotland, from Good Energies Capital.
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Engineering, procurement and construction services company Conti Group and Grupo Arranz Acinas are selling their wind development joint venture Arrcon Wind.
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AES Solar, a joint venture of AES Corp. and Riverstone Holdings, have wrapped a EUR68 million ($98.1 million) non-recourse financing backing 18 MW of photovoltaic projects in the regions of Lazio, Puglia and Sicily in Italy.
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First Solar has sold a 9.9 MW solar plant near Zamora, Spain, to the European Solar Power Fund, which is managed by KGAL GmbH & Co.
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Velocita Energy Developments, a Riverstone Holdings-backed developer, has bought a portfolio of early stage wind projects in France that could total 750 MW from E.ON.
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Kohlberg Kravis Roberts and insurance group Munich Re have agreed to buy a 49% stake in European solar photovoltaic developer Grupo T-Solar’s operating assets.
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Allied Irish Bank has reportedly tapped Rohan Singh, a former senior v.p. at HSH Nordbank, to help offload its more than $100 million U.S. project finance portfolio.
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Enel North America is talking to a potential buyer for its stake in TradeWind Energy, which has been on the market for over a year.
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Get your wallet out. This fall shoppers will be deluged with yet another product label as WindMade rolls out a three-swoosh symbol that will attest to a product’s green and environmentally friendly status.
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Bank of Ireland is aiming to sell its non-domestic project finance units, comprised of a EUR2.7 billion ($3.96 billion) portfolio and roughly 25 staff.
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Offshore wind farms won’t need to rely on governmental subsidies within 15 years, according to consultancy PricewaterhouseCoopers.
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Renewables could provide up to 77% of the world’s energy by 2050 if governments sharply increase financial incentives, according to a report by the Intergovernmental Panel on Climate Change, a United Nations panel.
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Njord, the Norse god of wind, is not pleased: several earthly beings are claiming to lay ownership over his torrents of air.
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Iberdrola saw its first quarter profits rise 10% as its U.S. wind generation output surged 48%, or 3,090 GWh.
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Total, the French oil and gas giant, has offered $1.37 billion for a majority stake in SunPower, one the largest moves to be made by a major energy company into renewables.
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JPMorgan is expanding its global commodities umbrella to encompass power and renewables financings as it prepares for a return to project finance.
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The Italian government has decided to extend solar incentives through Aug. 31.
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Italy is planning to extend a moratorium on its nuclear program due to concerns triggered by the Japanese nuclear crisis.
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Magma Energy is selling a quarter of its 98% stake in Icelandic geothermal company HS Orka for roughly $71.5 million to a group of Icelandic pension funds.
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The government of Iceland is trying to persuade Magma Energy to shorten a lease it has with an Icelandic geothermal company after singer Bjork led a campaign against foreign ownership of the power assets.
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Coal-fired plants are expected to trickle into the financing and M&A markets as developers get more clarity on regulations from the U.S. Environmental Protection Agency.
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Iceland ministers expect Magma Energy Corp. of Canada to shorten its 65-year geothermal lease at HS Orka power company.
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Poland expects to derive 8.85% of its energy from renewables this year.
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Scatek Solar, a subsidiary of Norwegian renewable shop Scatek SA, is looking for a strategic investor or a buyer for a 156 MW of photovoltaic projects in the U.S.
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Vestas and developer Eldepasco are in negotiations about supplying turbines for a 216 MW wind project off the coast of Belgium.
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EDF is proposing to buy the 50% of EDF Energies Nouvelles it does not own from minority shareholders for up to EUR1.5 billion ($2.16 billion).
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Rabobank, La Caixa and Banco Sabadell have wrapped an $81 million term loan backing Gestamp Wind’s 60 MW Flatwater wind farm in Richardson County, Neb.
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Google is investing $5 million in a solar plant in Brandenburg, Germany.
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Shenzhen Hanyuan Green Energy Resource Co., a Chinese venture run by three Asian firms, is targeting raising $30-100 million for five 50 MW biomass plants in developing countries.
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Dexia Crédit Local has hired Terry Sanabria, former co-head of credit and structured asset sales and trading at Société Générale, as managing director and head of loan sales and trading for North America.
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PPL Corp. has closed its $5.7 billion purchase of Central Networks, the U.K.’s second-largest electrical distribution business, from E.ON.
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AES Solar and NRG Energy are planning to sell a portion of their solar portfolios.
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NextEra Energy is considering acquiring renewable generation assets from Spanish construction firm Actividades de Construccion y Servicios, which would mark the first time NextEra has pursued wind opportunities in Europe.
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Italy’s Treasury has asked Enel to buy shares in Italian utility Edison if plans to restructure the company fail.
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